A look at the day ahead in U.S. and global markets from Mike Dolan For an investment world now so convinced of looming recession and substantially positioned for it, the incoming growth, inflation, banking and earnings pictures still won’t play ball. That leaves Wall St stocks in something of a sideways shuffle that has crushed…
By Alun John LONDON (Reuters) – The euro and pound are being whisked along by a conveyor belt of interest rate hikes in Europe just as U.S. rates near a peak, a reversal of the trends that drove them to multi-decade lows last year. The two currencies have rallied 4-5% against the dollar since March…
SHANGHAI (Reuters) – Elon Musk has said the only thing holding back electric vehicle (EV) sales is their price. Companies like BYD are solving that problem in China – and getting ready to solve it for the world. China’s largest EV maker unveiled this week the Seagull at the Shanghai auto show, shocking analysts and…
By Balazs Koranyi FRANKFURT (Reuters) – Euro zone inflation eased last month but underlying readings remained stubbornly high, Eurostat said on Wednesday, confirming preliminary data that raised worries at the European Central Bank about the persistence of price pressures. Consumer inflation in the 20 nations sharing the euro eased to 6.9% from 8.5%, primarily on…
(Reuters) – Mercedes-Benz has agreed on a buyback option for its Russian assets, the sale of which has now been granted official approval, the German carmaker said on Wednesday, bringing its exit from Russia one step closer. Mercedes, which suspended exports to Russia and local manufacturing in early March 2022, last year agreed to sell…
FRANKFURT (Reuters) – The euro zone’s current account surplus widened in February as imports fell thanks lower energy costs and already large net exports of services remained broadly steady, data from the European Central Bank showed on Wednesday. The 20-nation bloc’s adjusted current account surplus increased to 24.32 billion euros in February from 18.63 billion…
By Philip Blenkinsop BRUSSELS (Reuters) -Heineken maintained its forecast for 2023 profit growth with the risk of slower economic expansion in the Asia-Pacific region offset by greater resilience among beer drinkers in Europe. The world’s second-largest brewer expects its operating profit this year to increase by a mid- to high- single-digit percentage. “We see signals…
(Reuters) – Rheinmetall and Krauss-Maffei Wegmann (KMW) have received an order from the German army to upgrade 143 Puma infantry fighting vehicles, the companies said on Wednesday The order for their joint venture PSM is valued at around 770 million euros ($843.92 million), they said in a joint statement. According to the companies, they will…
SHANGHAI/SINGAPORE (Reuters) – China is widely expected to stand pat on lending benchmarks at the monthly fixing on Thursday, a Reuters survey showed, as economic recovery has been well on track – as seen from better-than-expected first-quarter data. China’s economy grew at a faster-than-expected pace in the first quarter, reducing the urgency for authorities to…
By Helen Coster and Jack Queen WILMINGTON, Delaware (Reuters) -Fox Corp and Fox News on Tuesday settled a defamation lawsuit by Dominion Voting Systems for $787.5 million, averting a trial putting one of the world’s top media companies in the crosshairs over its coverage of false vote-rigging claims in the 2020 U.S. election. The settlement,…
